Teradyne (TER) PT Raised to $116 at Morgan Stanley

Morgan Stanley analyst Joseph Moore raised the price target on Teradyne (NASDAQ: TER) to $116.00 (from $110.00) while maintaining a Equalweight rating.

The analyst comments "Semiconductor test will benefit from AI; with minimal graphics exposure, Teradyne success will be a function of newer entrants & memory, a factor in our EW rating. Semiconductor test, a duopoly market between Teradyne and Advantest (covered by Tetsuya Wadaki) is a beneficiary of AI, given increased demand for GPU and custom ASIC, as well as higher test intensity in HBM. Given Teradyne’s underperformance to Advantest (12-month return +5% vs +87%), and earnings bottoming out, the company has gained attention as a possible AI laggard. We see Teradyne as an AI beneficiary, but are cognizant that the near-term tailwinds aren’t as pronounced as at Advantest given the company’s customer and end-market exposure."

You May Also Be Interested In

• JD.com (JD) Reiterated at Buy by Benchmark Amid Earnings Recovery
• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Sansera Engineering Ltd (SANSERA:IN) PT Raised to INR4,250 at ICICI Securities